Standard Stochastic Oscillator with sensitivity feature.
Thank you for reading this post, don't forget to subscribe!It has the same parameters, as a standard Stochastic, but there is an additional “sensivity” parameter (Sens in the parameters window)
It allows to consider oscillations only below some predefined threshold, specified in points. This way we can reduce a lot of false signals.
The classical Lane Stohastic locates the current price between a maximum and a minimum prices for some number of bars, defined by %K (Kperiod) value, and it doen’t distingush the difference between extremums, for example 1 point or 100 points. For these two cases the results will be the same, and we will get the overbought/oversold signals.
But using some threshold, we can consinder only significiant oscillations.
At Fig. 1 (EURUSD, 1M), the price chart, standard stochastic and the indicator proposed are presented.
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[post-title] is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
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